The typical narrative regarding the evolution of world trade prior to World War II refers to a secular rise starting around 1870 and a subsequent collapse beginning in 1914. This narrative, however, is based on measures of trade openness that do not fully take into account purchasing power...

The typical narrative regarding the evolution of world trade prior to World War II refers to a secular rise starting around 1870 and a subsequent collapse beginning in 1914. This narrative, however, is based on measures of trade openness that do not fully take into account purchasing power...

This paper provides the first systematic attempt to measure cultural diversity at national and subnational levels. Our measure reflects the degree to which values and beliefs are shared in society and captures a dimension of diversity not previously discussed. We assess the importance of...